TickMill

tickmill
Min Deposit

$100

Min Spread

0.2

Regulation

FSA

Tickmill is a site that is made to disappoint everyone who boards the site. It is completely unsafe, and your money is always at risk while creating an account, forget about trading. You do not find it useful for trading information right from the time you visit it. The brokerage firm creates doubt when you read about it anywhere because several stories are floating against it on the internet. The design and look of the website are far from decent and looks like a deceitful one. 

The broker lets you down on all fronts; from education to customer care and technical indicators. Once you create an account, the decision haunts you to eternity, and there’s no backing out.

Tickmill Scam or Safe? 

Tickmill scam sticks with the broker like a wedge to a magnet. There is no authentic information available on the website that you can verify from neutral resources. Hence, you can lose your funds anytime. The trading volume displayed by it is unbelievably high and a deceitful number, pressing you to believe that some fraud service is taking over it. You can see the brokerage firm putting out these calculations and continuing with them for months now. Where’s the authenticity? Is some agency putting them out there? No. So, how can someone believe it?

Moreover, the website looks like some casino platform trying to engage through imposters’ means. Thus, there is a red flag on it everywhere.

Worst Account Types:

You do not get to see adequate services at hand while trading with the accounts offered by Tickmill. Unusually, the names of the accounts are Pro, Classic and VIP. They are enough not to let people buy the subscription for them. Furthermore, the features are so done and dusted that you realise it as a mistake once you board them.

Notably, in its Classic Account, the spreads start from as much as 1.6 pips. Now, that’s a lot and enough to put your efforts down in a single attempt. Moreover, the VIP Account seeks a whopping 50,000 bucks as a minimum deposit to start trading. Not that is a case of forgery and loot. A trader cannot trust someone who would begin by asking such a massive amount. And what do you get in return? Nothing.

Trading Platform: 

In terms of the trading platform, the self boastful broker offers nothing more than paltry and poor WebTrader and MetaTrader4. Both are old and not complying to the needs of modern-day traders. If you want to grow in the field of financial markets, then taking out MetaTrader5 is vital. You can’t succeed with old tools in the battle of making bigger benefits.

Markets and Products:

First of all, the broker is short of proper products. You do not know how to trade on it. So, disappointment, coupled with frustration, is written all over it. A trader cannot find an element or asset for trading on the broker. You cannot succeed in earning money on it. So, keeping a distance is helpful then trading on it. Who knows, you may end up losing all you have in the bank.

Account Opening: 

The account opening process is challenging and confusing and fails to clear the intent for taking information. The broker doesn’t explain the process anywhere on the website, and the clients need to provide details without understanding the further process of verification. 

The processing time for verifying accounts is much longer than other top trading brokers, and the user needs to wait for more than multiple days. It can discourage professional users and waste newcomers’ time which would have been used for practice and learning.  

Commissions and Fee:

Do not ask for the commission and fee here. It disappoints a trader to the lowest trajectory and level. There are charges on everything that you to want to facilitate your trading with and earn money. From basic tools to analytical charts; nothing is for free. The hidden costs take a toll on your earnings and clean them up before you realise where it went. So, ticking on Tickmill can leave you aghast.

Pathetic Deposit and Withdrawal methods

The brokerage firm does not offer a good experience while you try to deposit and withdraw funds. It neglects the idea of security. So, the fear of losing money always haunts you.  Forget about the processing; you won’t even realise when the hard-earned bucks got siphoned off by the broker. Also, it does not hear your grievances. So, the reaction would anyways disappoint you the most. So, transactions are all in your hands. It is all at your disposal. Before applying for even a single penny, use your mind. 

Dangerous CFD markets 

We all know how perilous or hazardous the contract for differences market can be. It is a territory with unknown probabilities where one wrong step by a broker or a trader can cause them the lifetime of loss. Tickmill deals heavily in such spaces, which bring indefinite troubles for you. Come what may, the broker is always in the benefits irrespective how an investor feel about the market. So, if you trade with the brokerage firm, you do not get the luxury of trading directly into a specific market or buying an instrument or an asset.

Research: 

If you are looking for the research and create a strategy to make good use of the market’s volatility, then do not look up to the broker, it does not have anything to offer in those regards. You’ll be left with gaping for hope desperately, but the broker wouldn’t come to your rescue because there is no intent to support the trader.

Education:

The broker’s educational material is of bad quality. The broker does not have a thing in terms of material for offering education. So, a trader does not get the required and updated information. It takes a toll on the market player’s growth, which hampers him/her while trading in the financial market. 

Customer Service: 

The lesser we tell, the better it is for people to know about the sadistic type of customer service Tickmill offers. The phone is gloomy as Shakespeare’s plays. You don’t get answered by even ghosts. No one picks up a call for grievance redressal. You don’t know what’s wrong with the live chat option. It is not living up to the mark and renders wrong answers for correct queries. A broker seems disinterested in helping its clients. How can you go ahead and make a connection on it? If you’re stuck at a place with enormous funds, there would be no help waiting for you.

Conclusion

TickMill exhibits some traits that make it stand in the line of fraud brokers. You can find accusations from several people. Hence, you cannot decide on how to trade on the brokerage firm. It is synonymous to cheating, and the licensing, registration and the regulation are completely fraud and take the sheen away entirely from the world of trading. TradedWell, Brokereo, ETFinance, IGM FX, and others provide a wide range of trading instruments through core types of accounts and trading platforms. The commission and spread charges are comparatively low. Most importantly, all these brokers are the safest ventures for traders and investors to trade as the leading financial institutions regulate them.

FAQ

Tickmill scam sticks with the broker like a wedge to a magnet. There is no authentic information available on the website that you can verify from neutral resources.

It process all withdrawal requests within one working day. The time necessary for the funds to reach your bank account depends on your bank’s policy. Bank withdrawals can take 3-7 working days to be seen on the client’s account.

Tickmill UK Ltd is authorised and regulated by the Financial Conduct Authority.

The Method on the Trading.com is confusing and long time taking. It takes up to 7 days for settling your money into your account.

The minimum deposit is $100 for all account types. However, to get a VIP account, you have to reach a minimum balance of $50,000.

Yes, it allows scalping and hedging also. It makes trading strategy good.

Yes, Clients can trade on the NASDAQ.

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